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TO AMEND SECTION 59-143-10, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO CHILDREN'S EDUCATION ENDOWMENT, SO AS TO SPECIFY THE AMOUNT OF A GRANT MADE BY THE TUITION GRANTS COMMISSION.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 59-143-10(C) of the 1976 Code, as last amended by Act 353 of 2008, is further amended to read:
"(C) Funds made available for Need-based Grants and Palmetto Fellows Scholarships through the Higher Education Scholarship Grants allocation must be no more than the prior year's earned revenue and must be released for use on July first and January first of each fiscal year. A grant may be in any amount up to and including three thousand two hundred dollars. Notwithstanding the provisions of this section, any unspent balance in the Higher Education Scholarship Grants allocation of the Children's Education Endowment Fund, including interest and low-level radioactive waste tax revenue from previous years' collections, may be made available for Need-based Grants and Palmetto Fellows Scholarships."
SECTION 2. This act takes effect July 1, 2016.
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